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Jan 15, 2013
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ceiling which tends to be popular. people -- you know, the american public, they hear debt ceiling and they think no, let's not do that. that sounds awful to give government more money to spend. he's trying to turn it around. but it absolutely is a dynamic that he exemplploited when he w senator. >> robert costa, let's look at this for a minute. republicans have a tricky situation. because the country does not want us to default. and this whole business of managing accounts and prioritizing, there's 80 million payment accounts. i know the interest on the debt will be paid, but to some extent the gop has got to watch itself, robert. they could come really at the wrong end of a massive public relations blunder. >> that's exactly right, larry. the president's press conference today really was first battle in this public relations war. what matters is that the president is out there for an hour, making his case to the american people. what the republicans need to do a better job is making their case. now, it's easy to poin
ceiling which tends to be popular. people -- you know, the american public, they hear debt ceiling and they think no, let's not do that. that sounds awful to give government more money to spend. he's trying to turn it around. but it absolutely is a dynamic that he exemplploited when he w senator. >> robert costa, let's look at this for a minute. republicans have a tricky situation. because the country does not want us to default. and this whole business of managing accounts and...
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Jan 21, 2013
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we've gone over the cliff, now we have the debt ceiling. but, you know, even if they get over those two short-term problems, you still have got the problem of a massive deficit, which is going to have to be reigned in. at some point, you're going to get a fiscal squeeze in america and that is going to put a break on what is not very far from economic growth. i think you'll have that which is always something that is going to be there in the background. you have a lot of debt, as well, still in the private sector, which needs to be fluffed off. there's a deraef raejing that you've been seeing right across the western world is still going to go on, i think, for the best part of this decade. >> and we heard leading up to this election that rarely has a u.s. president been elected with such high levels of unemployment. what was different this time? >> oh, i think it had something to do with the candidate he was facing not being able to energize the public. but i also think, look, reflation? the public loves that, right? free money. >> but do th
we've gone over the cliff, now we have the debt ceiling. but, you know, even if they get over those two short-term problems, you still have got the problem of a massive deficit, which is going to have to be reigned in. at some point, you're going to get a fiscal squeeze in america and that is going to put a break on what is not very far from economic growth. i think you'll have that which is always something that is going to be there in the background. you have a lot of debt, as well, still in...
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Jan 14, 2013
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. >> the debt ceiling is still around. >> easily, though. >> the debt ceiling is still around. you are still dealing with that and, of course, the sequester issue. there are a lot of questions about what happens. we're speccing to run into that debt ceiling sometime between february 15th and march 1st. in the meantime, let's talk about corporate news. aig is suiciding maiden lane over lawsuit rights. it's the federal vehicle created during aig's bailout. at issue is whether the insurer transferred its rights to sue for losses that it incurred on its troubled bonds when it sold $2 billion in securities to the fed in 20308. aig is preserving its right to sue the federal government and other debts. >> fed chairman ben bernanke is going to speak and answer questions at the university of michigan. in d.c., president obama is said to be forging ahead on a wide ranging plan to overhaul the immigration plan this year. this includes a path to citizenship for illegal immigrants already in the country. immigrants would have to pay fines and back taxes. it would require businesses to veri
. >> the debt ceiling is still around. >> easily, though. >> the debt ceiling is still around. you are still dealing with that and, of course, the sequester issue. there are a lot of questions about what happens. we're speccing to run into that debt ceiling sometime between february 15th and march 1st. in the meantime, let's talk about corporate news. aig is suiciding maiden lane over lawsuit rights. it's the federal vehicle created during aig's bailout. at issue is whether...
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Jan 21, 2013
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he seems to have been a force forex tending debt ceiling in order to gain some time to negotiate. i think all of that argues in favor of some time to get the right things done. >> chuck gabriel, how did you read or hear the president's passage where he talked about medicare and social security and he said the commitments we make to each other through medicare, medicaid, social security, these things do not zap our initiative, they strengthen it. they do not make us a nation of takers, they free us and make this country great. that felt to me like a bit of a stake in the ground by the president. >> yeah. you know, the president last week cast doubt on whether republicans believe in the principles and functions of social security and medicare, etc. so in some respects i think this is kind of a new, improved version of what president clinton did when he was facing a republican congress. he was talking about family values back in the '90s. he said i want a government that values families. and as the president said, we don't need to relitigate this today, but we need a government that
he seems to have been a force forex tending debt ceiling in order to gain some time to negotiate. i think all of that argues in favor of some time to get the right things done. >> chuck gabriel, how did you read or hear the president's passage where he talked about medicare and social security and he said the commitments we make to each other through medicare, medicaid, social security, these things do not zap our initiative, they strengthen it. they do not make us a nation of takers,...
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Jan 21, 2013
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debt ceiling issue, and also immigration reform. something that the president said would be a top priority. so a lot of different events for the president today. capping it off will be two balls. on official inaugural ball and the commander in chief ball taking place tonight. key folks will be taking part in ceremonies today. in particular, some hispanics playing an important role. chief justice sonja sotomayor, takie ing place on the swearing of the president. the inaugural committee has chosen a cuban american to read an original poem. cuban american civil jeer and author, richard blanco. so hispanics playing an important role on an important day in washington. john. >> a long day of firsts and a long day of celebration. dan lothian at the white house this morning. the crowd expected to turn up at the national mall, not expected to be as large as four years ago, when 1.8 million people crowded into the city. they are still expecting some 800,000 people today. nothing to thumb your nose at. christi paul on the national mall where c
debt ceiling issue, and also immigration reform. something that the president said would be a top priority. so a lot of different events for the president today. capping it off will be two balls. on official inaugural ball and the commander in chief ball taking place tonight. key folks will be taking part in ceremonies today. in particular, some hispanics playing an important role. chief justice sonja sotomayor, takie ing place on the swearing of the president. the inaugural committee has...
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Jan 20, 2013
01/13
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with the debt ceiling. and finally, we're told that the president will push to get the public engaged, engaged in their community, engaged in the issues to put pressure on congress to move the president's initiatives forward, john. this is seen as sort of the stage one or the act one, part two will be the president's state of the union address where he'll add more details to his proposals. >> you split it into acts there, dan, appropriate because we saw the president today, the swearing-in ceremony, but because this is a sunday, we saw him only briefly in the blue room. how has he been spending the rest of the day, and what are his plans for this evening? >> reporter: this evening within this hour, the president will be heading to the building museum for a candlelight reception there. he will be making remarks, but much of the day, you know, was quite busy earlier in the day, then had some down time. the president's still working on his speech. we're told that he's in the final stages. he did a lot of it on
with the debt ceiling. and finally, we're told that the president will push to get the public engaged, engaged in their community, engaged in the issues to put pressure on congress to move the president's initiatives forward, john. this is seen as sort of the stage one or the act one, part two will be the president's state of the union address where he'll add more details to his proposals. >> you split it into acts there, dan, appropriate because we saw the president today, the...
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Jan 19, 2013
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ceiling fight. >> that's right. although now we're seeing some of the temperatures lower there because every was expecting for this to be during the last time out, republicans saying let's deal with this for the next three mos, deal with the longer one later. the white house encouraged -- they're encouraged by what they're hearing but clearly it's not going to be easy. but certainly i think not as contentious as we were thinking in the short term. >> we'll see how that relationship develops if at all or e vovls throughout the next term. dan, thanks very much. john has some of the other headlines this hour. >>> including the manti te'o story. twists and turns if that mysterious case of the notre dame linebacker and his fictitious girlfriend. notre dame linebacker says he was the victim of a cruel hoax. he spoke off kacamera with espn jeremy schaap and said as recently as last wednesday he believed his girlfriend was real person even know he never met her. schaap says he seemed believable and sincere throughout the in
ceiling fight. >> that's right. although now we're seeing some of the temperatures lower there because every was expecting for this to be during the last time out, republicans saying let's deal with this for the next three mos, deal with the longer one later. the white house encouraged -- they're encouraged by what they're hearing but clearly it's not going to be easy. but certainly i think not as contentious as we were thinking in the short term. >> we'll see how that relationship...
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Jan 18, 2013
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how do you square that with this very specific debt ceiling problem that we have, that we have financial obligations that we've already made that need to be paid and we have a second debate going on about how we should spend our money? >> basically, ali, we have 100% leveraged. $16.5 trillion in debt. if we continue to borrow and spend beyond our limit, we're going to compound that debt and deficit and be on an us sustainable course for us to survive. we're at a point, we need to take the one less traveled and make all the difference. we're going to have to put our talking points on and leave them outside of the room. >> yes. >> sit down at the table, prioritize our spending, act like a business person would have to act and every family member has to act and we're going to get our house in order. we don't do that, we're going to be a deader state. >> you want to get business done. you want to get a budget. can can we not separate these things out? i know there are a lot of people who take the debt ceiling off the table and increase it and you lose your leverage. republicans lose your lev
how do you square that with this very specific debt ceiling problem that we have, that we have financial obligations that we've already made that need to be paid and we have a second debate going on about how we should spend our money? >> basically, ali, we have 100% leveraged. $16.5 trillion in debt. if we continue to borrow and spend beyond our limit, we're going to compound that debt and deficit and be on an us sustainable course for us to survive. we're at a point, we need to take the...
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Jan 18, 2013
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with these things, take the small one first, debt ceiling last, i think it's a rational, reasonable thing to do. >> now, for some, wolf, maybe even those in the republican house leadership, like him talking about what is rational and reasonable, that may be a bit jarring but the house republicans are coming out of their three-day retreat saying they have a better chance of reaching their goal of broad spending cuts. and that means not making the demand in the next few weeks, which is exactly what it would mean because, according to most economists, we will hit that debt ceiling mid-february. >> so here's the question, bottom line, is is this a sure thing? will congress actually vote to raise the debt limit next week? >> well, there is a catch. the house gop, the leadership at least says what they are going to try to pass next week would raise the debt ceiling for three months but with a condition. and that would be that the house and senate pass budgets. it may seem simple but house republicans like to point out that they haven't passed a budget in years. we already saw a carefully
with these things, take the small one first, debt ceiling last, i think it's a rational, reasonable thing to do. >> now, for some, wolf, maybe even those in the republican house leadership, like him talking about what is rational and reasonable, that may be a bit jarring but the house republicans are coming out of their three-day retreat saying they have a better chance of reaching their goal of broad spending cuts. and that means not making the demand in the next few weeks, which is...
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Jan 19, 2013
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>> i think if they want to go with a clean debt ceiling race, he has to mike a final resolution. the public, not the republicans, the public wants spending cuts. he needs to go along with sequestration and find ways to cut government, shows that republicans are doing anything. boehner is a survivor, not really a leader. >> we'll have more after this break on the two presidents. what are the president's biggest challenges he faces going into this second term? stay with us. at 1:45, the aflac duck was brought in with multiple lacerations to the wing and a fractured beak. surgery was successful, but he will be in a cast until it is fully healed, possibly several months. so, if the duck isn't able to work, how will he pay for his living expenses? aflac. like his rent and car payments? aflac. what about gas and groceries? aflac. cell phone? aflac, but i doubt he'll be using his phone for quite a while cause like i said, he has a fractured beak. [ male announcer ] send the aflac duck a get-well card at getwellduck.com. ya. alright, another one just like that. right in the old bucket. g
>> i think if they want to go with a clean debt ceiling race, he has to mike a final resolution. the public, not the republicans, the public wants spending cuts. he needs to go along with sequestration and find ways to cut government, shows that republicans are doing anything. boehner is a survivor, not really a leader. >> we'll have more after this break on the two presidents. what are the president's biggest challenges he faces going into this second term? stay with us. at 1:45,...
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Jan 19, 2013
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expressed concern about how much of the chill news were addressed in the deal. it went part way, but it leaves a number of issues still on the table and negotiations are looming. would you characterize that as an additional cliff that is facing us? or is it not as concerned as it was when you raised that term initially? >> as i said, the fiscal kloof, if allowed -- the fiscal clef, if allowed to take place, would probably create a recession this year. a good part of that has been addressed. but nevertheless, we have a set of a restrictive fiscal policies now. federal fiscal policy will subtract from real gdp growth something on the order of one% to 1.5% this year. it is quite a drag on the economy. there is more work to do. let me be clear about that. it will be a long haul. it will not happen overnight. basically because the government budget represents the values and priorities of the public and decisions being made about what to spend on, what to tax and so on are difficult and contentious decisions and will take some time to address. >> those issues, of cour
expressed concern about how much of the chill news were addressed in the deal. it went part way, but it leaves a number of issues still on the table and negotiations are looming. would you characterize that as an additional cliff that is facing us? or is it not as concerned as it was when you raised that term initially? >> as i said, the fiscal kloof, if allowed -- the fiscal clef, if allowed to take place, would probably create a recession this year. a good part of that has been...
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Jan 16, 2013
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gohmert: so we had a debt ceiling bill that was undermined from the beginning, no deal was reached, sequestration, massive cuts to our national security, our national defense. would be inflicted. and massive cuts to medicare. our leaders responded to me that , gee, the democrats will never allow the cuts to medicare, the sequestration to medicare, $300 billion or so, they'll never allow that. that's why we know the supercommittee will reach an agreement. i advised them that that would not happen. there would be no agreement. of course they're willing to have $300 billion or so cut to medicare because obamacare cut $00 billion from medicare, from our seniors' care, without a single republican vote. so the only way the democrats could run a commercial last year, 2012 with any sincerity at all saying, gee, republicans are cutting medicare, would be if they prevent republicans from reaching agreement with the president, democrats, and then they'll run in in commercials in 2012 and blame republicans and say, see, they didn't reach an agreement. they wanted to cut seniors and help their rich friends. a
gohmert: so we had a debt ceiling bill that was undermined from the beginning, no deal was reached, sequestration, massive cuts to our national security, our national defense. would be inflicted. and massive cuts to medicare. our leaders responded to me that , gee, the democrats will never allow the cuts to medicare, the sequestration to medicare, $300 billion or so, they'll never allow that. that's why we know the supercommittee will reach an agreement. i advised them that that would not...
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Jan 15, 2013
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what we deal with is -- technically, we should have passed the debt ceiling at the beginning of the year but we were able to extend the period and the treasury says -- at least by march, sometime in march, they will need authority from congress to borrow more money. >> how are republicans in congress reacting to the comments? >> republicans in the house side are just getting into town and they will disappear for their political retreat. senate republicans are not scheduled to be in this week. i know from following twitter and following the reaction from speaker boehner and mitch mcconnell they didn't agree with his comments and expect to pass legislation on the house side and passing legislation for the debt ceiling and the spending issue, as they see it. >> is any of this complimented by tim geithner being eager to exit his post. >> this is about the president and what he wants. jack lewis is a former office of managment and budget director and he knows these issues. and they've been through this before in summer 2011. i don't think geithner's exit effects it either way. >> david drucke
what we deal with is -- technically, we should have passed the debt ceiling at the beginning of the year but we were able to extend the period and the treasury says -- at least by march, sometime in march, they will need authority from congress to borrow more money. >> how are republicans in congress reacting to the comments? >> republicans in the house side are just getting into town and they will disappear for their political retreat. senate republicans are not scheduled to be in...
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Jan 15, 2013
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authorize an increase in the debt ceiling so we can pay our bills. that is the right way to do it. i think that is what will eventually happen. i do not think that going off in the other direction would really be helpful. >> hello chairman bernanke. i am a second year mpp. second question from the audience, does the debt ceiling still have a practical are busy and could it be in limited without much consequence? >> no, it does not really have -- it has symbolic value, i guess area. no other country, i believe, have this particular institution. just so everybody understands what it is, the congress appropriate $100, tells the government to spend $100 on whatever. then it raises $80 in revenue through its tax code. the arithmetic care -- you have got to borrow $20. no, the congress has to give a third rule which says that 100 - 80 equals 20. if the congress is approving spending and taxing, and they are not equal, then logically, there has to be something to make up the difference. that is borrowing. i am not saying that visits and deaths are a good thing thing. not at all. the way t
authorize an increase in the debt ceiling so we can pay our bills. that is the right way to do it. i think that is what will eventually happen. i do not think that going off in the other direction would really be helpful. >> hello chairman bernanke. i am a second year mpp. second question from the audience, does the debt ceiling still have a practical are busy and could it be in limited without much consequence? >> no, it does not really have -- it has symbolic value, i guess area....
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Jan 19, 2013
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an increase in the debt ceiling so we can pay our debts. i think that is what will eventually happen. i do not think the going often the other direction would be that helpful. >> -- that going off in the other direction would be that helpful. >> i am a second year at the board's school. does the debt ceiling still have a practical purpose? could it be eliminated without much consequence? >> it has got symbolic value. maybe one or two other countries, but essentially no other countries and the world have this particular institution. the congress appropriates $100, tells the government to spend $100 on whatever, and then it raises $80 in revenue through its tax code. the arithmetic here says, you have to borrow $20. no, congress has to give a third 100-80 = says the 180at 20. logically, there is got to be something to make up the difference. the way to address it is by having a sensible plan for spending, insensible span foplar revenue. as i was saying before, this is like a family saying, we're spending too much. let's stop paying our credit
an increase in the debt ceiling so we can pay our debts. i think that is what will eventually happen. i do not think the going often the other direction would be that helpful. >> -- that going off in the other direction would be that helpful. >> i am a second year at the board's school. does the debt ceiling still have a practical purpose? could it be eliminated without much consequence? >> it has got symbolic value. maybe one or two other countries, but essentially no other...
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should be the debt ceiling or the continuing resolution to fund the government or sequestration? caller: the continuing revolution to keep the government going -- resolution. there are many departments we don't need. i was showing my grandchildr the debt clock, telling him how much money he would know when he becomes a taxpayer. he said he does not want to become a taxpayer. this is taxation without representation. they have to get this under control. they need a dyiet. host: jason is a democratic caller in brooklyn, new york. caller: i think the debt is negotiable. it has been high before. host: what did you say? caller: it ought to be negotiable. i think obama needs to the finish his job. spending programs for poor neighborhoods and give other people a chance in this country. the tea party and right-wing republicans, it is obvious they are racist and nobody wants to work with them. in the next four years they have to get it right, because asians, hispanics, and african-americans make up the majority of this country now. so they had better get it right. host: the new york times
should be the debt ceiling or the continuing resolution to fund the government or sequestration? caller: the continuing revolution to keep the government going -- resolution. there are many departments we don't need. i was showing my grandchildr the debt clock, telling him how much money he would know when he becomes a taxpayer. he said he does not want to become a taxpayer. this is taxation without representation. they have to get this under control. they need a dyiet. host: jason is a...
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Jan 14, 2013
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binding votes for the debt ceiling can sometimes be complicated. in previous aspects of american history, president reagan, president h. w. bush, president clinton all signed debt reduction deals. you have done this three times. four times was related to budget maneuvers. what many people are curious about is this new madam a desire on your part not to negotiate but that seems to conflict with the modern era of presidents with the debt ceiling and your own history. does that suggest we will go into a default situation because no one is talking about how to resolve this? >> no, major. getting votes for this is always difficult. i went through this and just last year. what is different as we never saw a situation as we saw last year in which certain groups in congress took such an absolutist position that we begin within a few days of defaulting. the fact of the matter is that we have never seen the debt ceiling used in this fashion with the notion is that we might default unless we get 100% of what we want. that has not happened. as i indicated befo
binding votes for the debt ceiling can sometimes be complicated. in previous aspects of american history, president reagan, president h. w. bush, president clinton all signed debt reduction deals. you have done this three times. four times was related to budget maneuvers. what many people are curious about is this new madam a desire on your part not to negotiate but that seems to conflict with the modern era of presidents with the debt ceiling and your own history. does that suggest we will go...
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Jan 13, 2013
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i am calling about the debt ceiling. yes, it does need to be raised. because we have to pay our bills. if the government is allowed to borrow money and set their circumstances, then why is the private business sector not allowed to do that? the federal reserve has been shut down as far as to the bankers, as far as the this man being able to borrow money. the industry in the united states needs money to operate on and and. we need to be able to borrow money. if his mrs. are not allowed to expand and grow, how do they expect to pay the us -- these debts down the road? get these guys out of here. they do not need to be making a lifetime commitment. they have gotten old and senile and did not even know where they are. it is a shame that our government has gone this far. it is just terrible. host: thank you for the call. if you're just joining us, or listening on c-span radio, thank you for joining us. the question we are asking is whether or not you think the president can bypass congress to raise the debt ceiling. you can join the conversation by giving u
i am calling about the debt ceiling. yes, it does need to be raised. because we have to pay our bills. if the government is allowed to borrow money and set their circumstances, then why is the private business sector not allowed to do that? the federal reserve has been shut down as far as to the bankers, as far as the this man being able to borrow money. the industry in the united states needs money to operate on and and. we need to be able to borrow money. if his mrs. are not allowed to expand...
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Jan 19, 2013
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with regard to the debt ceiling, here we go again. the republican party, if it goes along with this deal in my opinion ought to change its name to the caveman party and boehner and mcconnell would be the cavemen in chief, because every time we come to this debt ceiling what do the republicans do? they give in. and every amount of money that this country spends is showing it's unsustainable. we've got to reform them and get our budget in order and we've got to get our spending under control. host: lori who is one of the 65 people on facebook who has commented on this this morning says that this makes the seventh debt ceiling plays the obama's term while the democratically-controlled senate hasn't passed a budget. it seems silly -- logical to me at but he'll -- by the way, it gives an advertisement to our plans for inauguration weekend. all-day coverage. you can tune in on sunday and monday for activities monday all day starting at 7:00 a.m. and sunday for the official swearing in at the white house. again, if you want more information
with regard to the debt ceiling, here we go again. the republican party, if it goes along with this deal in my opinion ought to change its name to the caveman party and boehner and mcconnell would be the cavemen in chief, because every time we come to this debt ceiling what do the republicans do? they give in. and every amount of money that this country spends is showing it's unsustainable. we've got to reform them and get our budget in order and we've got to get our spending under control....
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Jan 17, 2013
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with the debt ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. but i didn't come here to talk about any of those important subjects today, because as important as they allr today we have a more urgent and immediate call and that is how to deal with the epidemic of gun violence in america. you all know the statistics better than anyone so i'm not going to repeat them. on that score, i owe an incredible debt of gratitude to you at the head table and those of you in the room. i know we don't have you nan hit in this ballroom nor do we in any ballroom, but we all acknowledge that we have to do something. we have to act. and i hope we all agree, there is a need to respond to the carnage on our streets and in our schools. i hope we all agree that mass shootings like the one we witnessed in newtown 34 days ago cannot be continued to be tolerated. that tragedy has affected the public in a way i have never seen before. the image of first graders, not only shot, but riddled wit
with the debt ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. but i didn't come here to talk about any of those important subjects today, because as important as they allr today we have a more urgent and immediate call and that is how to deal with the epidemic of gun violence in america. you all know the statistics better than anyone so i'm not going to repeat them. on that...
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Jan 18, 2013
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was that deal good for poor people? >> for 30 years, we have not addressed this issue, except for the wonderful work that you and cornel are doing in these wonderful people on the panel. politics has neglected the poor. one could say that there was a war on the poor rather than a war on poverty for much of this period. the united states has by far the most poverty of any of the high-income countries as a share of the population. we have the highest in quality. we have the most entrenched underclass. we have had the biggest increases of any quality by leastnd we've had the political response of any high- income countries, so we are standing out on our own. this has been a 30-year trend of soaring in comes at the top, stagnation in the middle, and falling through the floor on the bottom, and the political system has refused to address this for 30 years. so we have reached a calamitous situation in this country, but the fact of the matter is nothing that was done at the fiscal cliff and what lies ahead most likely will not
was that deal good for poor people? >> for 30 years, we have not addressed this issue, except for the wonderful work that you and cornel are doing in these wonderful people on the panel. politics has neglected the poor. one could say that there was a war on the poor rather than a war on poverty for much of this period. the united states has by far the most poverty of any of the high-income countries as a share of the population. we have the highest in quality. we have the most entrenched...
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with the debt ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. but i didn't come here to talk about any of those important subjects today, because as important as they all are today we have a more urgent and immediate call and that is how to deal with the epidemic of gun violence in america. you all know the statistics better than anyone so i'm not going to repeat them. on that score, i owe an incredible debt of gratitude to you at the head table and those of you in the room. unanimitydon't have in this ballroom nor do we in any ballroom, but we all acknowledge that we have to do something. we have to act. and i hope we all agree, there is a need to respond to the carnage on our streets and in our schools. i hope we all agree that mass shootings like the one we witnessed in newtown 34 days ago cannot be continued to be tolerated. that tragedy has affected the public psyche in a way i have never seen before. the image of first graders, not only shot, but riddled with b
with the debt ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. but i didn't come here to talk about any of those important subjects today, because as important as they all are today we have a more urgent and immediate call and that is how to deal with the epidemic of gun violence in america. you all know the statistics better than anyone so i'm not going to repeat them. on that...
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supposed to do and needs to do and authorize an increase in the debt ceiling soon compare our debts and bills . that is the right way to do it. and the i think that is what will eventually happen, but i don't think that going off in another direction would really be all that talk -- all that helpful. >> hello, chairman bernanke. i am a second year in pp at the force cool and studying for a graduate certificate in science and technology. second question from the audience, does the debt ceiling of a practical purpose? could it be eliminated without much consequence? >> does what have? >> the debt ceiling. >> it does not really have. it has symbolic value i guess, but no other country, i believe, maybe one or two other, but no other countries in the world have this particular institution . to so everyone understands what is, the congress appropriates $100, tells the government to spend $100 on whenever and then it raises $80 in revenue through its tax code. now, the arithmetic here sort of says, you have to borrow $20. shephard -- the congress has to give a third rule. if the congress is a
supposed to do and needs to do and authorize an increase in the debt ceiling soon compare our debts and bills . that is the right way to do it. and the i think that is what will eventually happen, but i don't think that going off in another direction would really be all that talk -- all that helpful. >> hello, chairman bernanke. i am a second year in pp at the force cool and studying for a graduate certificate in science and technology. second question from the audience, does the debt...
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later, the bipartisan policy center on a talk to talk about options of dealing with the debt ceiling check out c-span studentcam 2013 video documentary competition. the deadline is friday january 28. the grand prize is $5000. >> i welcome all of you here today. on behalf of the gerald ford school of public policy, university of michigan is honored to welcome the honorable ben bernanke, chairman of the board of governors. today's conversation is in a series of distinguished lectures at the school. we are pleased to produce today's events and to have have president mary sue coleman with us. i would like to welcome all of them and thank them for joining us today. it is an honor and truly a personal pleasure for me to introduce our special guest. the charge is to promote a healthy economy and a complex and critically important mission. german ben bernanke was first appointed as the chair in 2006 and he has served in that role during the most challenging time for monetary and financial policy since the great depression. the financial crisis, the great recession, slow recovery with the evo
later, the bipartisan policy center on a talk to talk about options of dealing with the debt ceiling check out c-span studentcam 2013 video documentary competition. the deadline is friday january 28. the grand prize is $5000. >> i welcome all of you here today. on behalf of the gerald ford school of public policy, university of michigan is honored to welcome the honorable ben bernanke, chairman of the board of governors. today's conversation is in a series of distinguished lectures at the...
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to do and needs to do and authorize an increase in the debt ceiling to pay our debts, pay our bills and that's the right way to do it, and, you know, i think that's what will eventually happen, but i don't think that going off in the other direction would be all that helpful. >> hello, chairman, i'm a second year -- [inaudible] >> second question, does the debt ceiling have a practical purpose and could it be eliminated without much consequence. >> does what have? >> the debt ceiling. >> oh, no, it doesn't really have -- symbolic value, i guess, but what -- no other country, i believe, maybe one or two other countries, but i think essentially no other countries in the world have this particular institution, just so everybody understands what it is. the congress appropriates a hundred dollars, tells the government to spend a hundred dollars on whatever, and then it raises $80 in revenue through its tax code. now the math here says, you know, go to the go borrow $20; right? no, congress has a third rule saying 100 minus 80 equals 20. if the congress is approving spending and approving
to do and needs to do and authorize an increase in the debt ceiling to pay our debts, pay our bills and that's the right way to do it, and, you know, i think that's what will eventually happen, but i don't think that going off in the other direction would be all that helpful. >> hello, chairman, i'm a second year -- [inaudible] >> second question, does the debt ceiling have a practical purpose and could it be eliminated without much consequence. >> does what have? >> the...
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with the debt ceiling, the need to deal with the looming she quester and the house republicans' concern that if they do anything on tax reform, that they may leave themselves up to the senate not to take action, and, therefore, they've taken an unpopular vote for no reason. why are you optimistic on tax reform? >> first of all, we have to resolve this debt can crisis in terms of -- this debt crisis in terms of sequestration and in terms of the full faith and credit of the u.s. in the next six weeks. we aren't going to accomplish tax reform in the next six weeks. so we have a deadline that i think cannot basically be moved for what we need to do. and so that will leave us adequate time to tackle the longerrer-range problems -- the longer-range problems. we're not going to accomplish tax reform in the next six weeks. but we need to, essentially, deal with the sequester, essentially find a balanced approach that's going to raise a trillion dollars or close to it. and so that's why i have some optimism, because we need to face up to the next six weeks, resolve it and then move on. >> rick?
with the debt ceiling, the need to deal with the looming she quester and the house republicans' concern that if they do anything on tax reform, that they may leave themselves up to the senate not to take action, and, therefore, they've taken an unpopular vote for no reason. why are you optimistic on tax reform? >> first of all, we have to resolve this debt can crisis in terms of -- this debt crisis in terms of sequestration and in terms of the full faith and credit of the u.s. in the next...
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with the debt ceiling, we may very well be able to meet the goal we set out to do, which is to have roughly $4 trillion cut over 10 years in the long-term deficit and put us on that past. i didn't come here to talk about any of this important subjects today because as important as they all are today we have a mortgage and indie media call and that is how to do with the epidemic of gun violence in america. the one of the statistics better than anyone, so i'm not going to repeat it. on that score i might add ale in a credible threat of gratitude to many of you at the table as well as those of you in the room. i know we don't have unanimity and this ballroom, nor do we have any ballroom, but we all know, it wanted knowledges we have to do some gain. we have to act and i hope we all agree there's a need to respond to the carnage on our streets and in our schools. i hope we all agree that mass shootings like the one we witnessed in your newton cannot be tolerated. that tragedy in public life has affected the public safety in a way that i've never seen before. the image of first graders,
with the debt ceiling, we may very well be able to meet the goal we set out to do, which is to have roughly $4 trillion cut over 10 years in the long-term deficit and put us on that past. i didn't come here to talk about any of this important subjects today because as important as they all are today we have a mortgage and indie media call and that is how to do with the epidemic of gun violence in america. the one of the statistics better than anyone, so i'm not going to repeat it. on that score...
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with the debt ceiling and the looming sequester and house republicans concerned that if they do anything on tax reform, that they may leave themselves open to the senate not taking action. therefore, they have taken in on popular vote for no reason. >> first of all we have to solve this debt crisis in terms of sequestration and in terms of the full faith and credit of the u.s. and. we are not going to accomplish tax reform in the next six weeks. so we have a deadline that cannot basically be moved for what we need to do in the next six weeks. so that would leave adequate time to tackle the longer-range problems. we will not publish tax reform in the next six weeks, but we need to essentially deal with the sequester. since we find a balanced approach that is going to raise the trillion dollar surplus to it. that is why i have some optimism. because we need to face up to the next six weeks and solve it and then move on. >> [inaudible question] i'd like to ask you about one of the big things involving entitlement reform. how big of a package would you need to see in terms of republicans for
with the debt ceiling and the looming sequester and house republicans concerned that if they do anything on tax reform, that they may leave themselves open to the senate not taking action. therefore, they have taken in on popular vote for no reason. >> first of all we have to solve this debt crisis in terms of sequestration and in terms of the full faith and credit of the u.s. and. we are not going to accomplish tax reform in the next six weeks. so we have a deadline that cannot basically...
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with the debt screaming and the -- ceiling and the sequesters. house republicans concerned if they do anything about tax reform. they may leave it open to the senate and not taking action and taken the vote for no reason. are you optimistic? >> first of all, i have -- we have to reself the debt crisis in terms of sequestration. and in term of the full, faith, and credit in the next six weeks. we aren't going to accomplish tax reform in the next six weeks. so we have a deadline that i think cannot be basically moved for what we need to do in the next six weeks. that will leave us adequate time to tackling the longer range problems. we're not going tackle tax reform in the next six weeks. we need to essentially deal with the sequestration, specially find a balanced approach that is going to raise a trillion dollars or close to. so that's why i have some optimism because we need to face up to the next six weeks, resolve it, and -- [inaudible] >> rick. [inaudible] by conflict -- i want to ask you about one of the big things the intiement element refo
with the debt screaming and the -- ceiling and the sequesters. house republicans concerned if they do anything about tax reform. they may leave it open to the senate and not taking action and taken the vote for no reason. are you optimistic? >> first of all, i have -- we have to reself the debt crisis in terms of sequestration. and in term of the full, faith, and credit in the next six weeks. we aren't going to accomplish tax reform in the next six weeks. so we have a deadline that i...
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at one point if you remember, the president was hoping he could get a debt ceiling deal tied to the fiscal cliff negotiation. that didn't happen. the republicans gave up that negotiation. but they're hoping that the debt ceiling raising will give them the leverage that they need to get what they want when it comes to spending cuts. the president hopes though that he can by delegitimizing this idea of having the debt ceiling as a debate, have them have no leverage going into the deficit-cutting discussion or at least a lot less leverage. >> bill: the other big topic, the only other topic actually raised at the news conference yesterday other than whether or not you elect a party, president likes to have a party. was the issue of guns where the president was not specific because he hasn't seen -- or wasn't ready to list all of the recommendations that may have come out of the biden task force. but the president did express and repeat his resolve to do something about this issue of gun violence. no doubt about that, was there? >> no. while he put off getting into the details a little bit, he
at one point if you remember, the president was hoping he could get a debt ceiling deal tied to the fiscal cliff negotiation. that didn't happen. the republicans gave up that negotiation. but they're hoping that the debt ceiling raising will give them the leverage that they need to get what they want when it comes to spending cuts. the president hopes though that he can by delegitimizing this idea of having the debt ceiling as a debate, have them have no leverage going into the deficit-cutting...
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but why didn't you deal with the debt ceiling now, why didn't you just take us over the cliff and then surely the republicans would have folded. which has not necessarily been the case. which leads to the heighten the contradictions liberal. the radicals wanted nixon to will elected because that would heighten the contradiction. if we would have just gone over the cliff, it would have created this economic disaster, and then people would have seen how extreme and out of touch these republicans are. well, maybe. if only we would have minted the platinum coin then surely people would have rallied around the president. but it doesn't really work like that. these outcomes are going to be sub-optimal like mick jagger said. >> jennifer: i loved your columns on this anybody who has served and had to negotiate realizes that you can't always get what you want. at least half of loaf is still half a loaf but if you don't get any of the loaf you go hungry, but i do understand the argument on the left that it's important for those voices to be loud to push public opinion about what is acceptable po
but why didn't you deal with the debt ceiling now, why didn't you just take us over the cliff and then surely the republicans would have folded. which has not necessarily been the case. which leads to the heighten the contradictions liberal. the radicals wanted nixon to will elected because that would heighten the contradiction. if we would have just gone over the cliff, it would have created this economic disaster, and then people would have seen how extreme and out of touch these republicans...
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and then they can say at that point we'll deal with the debt ceiling. so it was a way to put some pressure on mitch mcconnell. but mitch mcconnell seems to think that okay we'll pass a budget in the senate and then use that as possible leverage with the republicans in the house who might hold up the debt ceiling. >> michael: that makes perfect sense that that is what they are trying to do it is really just passing the buck. the white house held a firm line on saying we're not going to negotiate at all on this debt ceiling, and it worked. do you think this is a lesson that may carry for four years, when they see themselves posturing this way rather than what they have done on other issues? do you think this might be contagious within the white house? >> remember bill clinton and what the definition of is, is. with barack obama it's sort of what the definition of negotiation is. they will deal with the debt ceiling, and that's when you will have very active negotiations over the budget. what the house has effectively done is put this on a similar path, a
and then they can say at that point we'll deal with the debt ceiling. so it was a way to put some pressure on mitch mcconnell. but mitch mcconnell seems to think that okay we'll pass a budget in the senate and then use that as possible leverage with the republicans in the house who might hold up the debt ceiling. >> michael: that makes perfect sense that that is what they are trying to do it is really just passing the buck. the white house held a firm line on saying we're not going to...
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deal with the debt ceiling immigration and of course, we know gun control. agenda, actually supporting one party or the other. when the democrats are wrong, they know that i'm going to be the first one to call them out. they can question whether i'm right, but i think that the audience gets that this guy, to the best of his ability, is trying to look out for us. >> the only ones i could find that were any newsworthy. >> announcer: ladies and gentlemen, it's "the stephanie miller show." ♪ i'm walkin' on sunshine ♪ ♪ i'm walkin' on sunshine ♪ ♪ and it's time to feel good ♪ ♪ hey, all right now ♪ ♪ it's time to feel good ♪ >> stephanie: okay. if you say so. it is "the stephanie miller show" on the road live from washington, d.c. for the inauguration. here we are in bill press's studio. >> this is so discombobulating. >> stephanie: it is like the regular show only with more drinking and less sleep. jacki, how are you doing in there? can you hear me? >> i'm behind the glass. i'm in the news team. >> stephanie: she looks like a lobster. i want that one! >> you want the sm
deal with the debt ceiling immigration and of course, we know gun control. agenda, actually supporting one party or the other. when the democrats are wrong, they know that i'm going to be the first one to call them out. they can question whether i'm right, but i think that the audience gets that this guy, to the best of his ability, is trying to look out for us. >> the only ones i could find that were any newsworthy. >> announcer: ladies and gentlemen, it's "the stephanie...
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you and i are of the view we shouldn't have gotten into this because the debt ceiling should be part of the prior deals. >> as it was in every previous administration. >> right. >> as we know. eliot, good to visit with you this morning. talk to you again soon. >> have a good one >> bill: eliott spitzer, former governor of new york. former co- -- or host here on current tv. good friend, political commentate commentate, writes for slight, follow on twitter @eliotspitzer. [ music ] destined to take them over. ♪ ♪ the sirius xm satellite radio in the 2013 ram 1500. engineered to move heaven and earth. guts. glory. ram. the new ram 1500. motor trend's 2013 truck of the year. @Ñhd with the explosive yet reflective, jerry springer and we'll find out which one of these camera guys is a secret baby daddy. >> only on current tv. [ music ] >> this is "the bill press show." >> all right. in the next hour, evan mcmorrison turo from talking points memo in studio as a friend of bill and we'll be joined by congress woman january shakowski from illinois, talking about the government shutdown and
you and i are of the view we shouldn't have gotten into this because the debt ceiling should be part of the prior deals. >> as it was in every previous administration. >> right. >> as we know. eliot, good to visit with you this morning. talk to you again soon. >> have a good one >> bill: eliott spitzer, former governor of new york. former co- -- or host here on current tv. good friend, political commentate commentate, writes for slight, follow on twitter...
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with the debt ceiling. congressional republicans that is. and here in washington everybody gearing up for the big inauguration. meanwhile, very striking cbs/"new york times" poll out this morning revealing that the american people are overwhelmingly behind the common sense new measures to reduce gun violence unveiled this week by president obama and vice president biden, 92% of americans saying they support a universal background check. 63% support a ban on high-capacity magazines. 53% supporting a ban renewing of the ban on assault weapons. the american people are ready for action. on another front, two high-profile celebrities proving that they are nothing but big, fat liars today. lance armstrong lying about the tour de france and manti te'o lying about his girlfriend. all of that coming up right here on current tv. right have, about the "heavy hand of government" ... i want to have that conversation. let's talk about it. really? you're going to lay people off because now the government is going to help
with the debt ceiling. congressional republicans that is. and here in washington everybody gearing up for the big inauguration. meanwhile, very striking cbs/"new york times" poll out this morning revealing that the american people are overwhelmingly behind the common sense new measures to reduce gun violence unveiled this week by president obama and vice president biden, 92% of americans saying they support a universal background check. 63% support a ban on high-capacity magazines....
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they would focus on a longer-term debt ceiling increase sometime in april or may. that is the strategy from house republicans. president obama says he has not even entertained any type of negotiations. republicans should agree to raise the debt ceiling because having to raise it is the result of appropriations already passed and signed into law. back to you. melissa: thanks so much. ashley: here with reaction to the gop when it peter welch. thank you for joining us. you say, look, republicans are making it an "economic weapon of mass distraction." do they get is a continuation of that? >> it is actually progress for the republican confidence, but it is not progress for the country. that tack tick is not one that they can hold onto because they know it will plunge this country into a deeper recession. they have been -- it is a way to say they are avoiding. ashley: it really is not addressing the issue, though, what will it take to get that in place. i know that you, of course, have been leading the charge to have the president to prevent the country from defaulting.
they would focus on a longer-term debt ceiling increase sometime in april or may. that is the strategy from house republicans. president obama says he has not even entertained any type of negotiations. republicans should agree to raise the debt ceiling because having to raise it is the result of appropriations already passed and signed into law. back to you. melissa: thanks so much. ashley: here with reaction to the gop when it peter welch. thank you for joining us. you say, look, republicans...
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so why strike a deal on the debt ceiling when you can just eliminate it? they push from democrats in washington. dennis: a man charged with stealing $400,000 in copy toner. lori and tracy are up next. what's next? he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet, or body swelling; enlarged or painful breasts; problems
so why strike a deal on the debt ceiling when you can just eliminate it? they push from democrats in washington. dennis: a man charged with stealing $400,000 in copy toner. lori and tracy are up next. what's next? he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women,...
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ceiling. the deal not all worked out just yet. but apparently it this will not require the spending cuts that house republicans had wanted. just released fox news poll finds that 69% favor raising the debt limit only if there are major spending cuts involved. and 23% say it's reckless not to raise it regardless. the poll also shows more than 8 in 10 think government spending is out of control. only 11% believes it's being managed carefully. mike immanuel tracking developments on the hill tonight. what's behind this house republican plan. >> bill, a lot of g.o.p. frustration has been based on the fact the senate has not passed a budget. so republicans are trying to force it house speaker john boehner told house members, quote: before there is any long-term debt alowe time for a budget to get done. >> he our hope is to pass something very early so the senate can take action as well. i wouldn't put any jeopardizing of the economy there. shows that it is a very rational, put us on a better path an
ceiling. the deal not all worked out just yet. but apparently it this will not require the spending cuts that house republicans had wanted. just released fox news poll finds that 69% favor raising the debt limit only if there are major spending cuts involved. and 23% say it's reckless not to raise it regardless. the poll also shows more than 8 in 10 think government spending is out of control. only 11% believes it's being managed carefully. mike immanuel tracking developments on the hill...
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. >> eric: how about dealing with the debt ceiling and mr. boehner he won't negotiate anymore? >> the president is going to have to reach across the aisle and demonstrate sincerely he will listen and work. he has to show up for negotiations. he was an absent president when it came to negotiating some of the solutions to the big problems during his first term. he has to be part of the solution and work with congress to try to get things done. we watched george w. bush do it when he did it in a controversial election, first term and second term. first term he reached across the aisle and got tax cuts for everyone even though the united states senate switched majority control from republicans to democrats in may of his first year in office. then he worked across the aisle to get education reform done. it can happen, but it takes a president who is willing to be presidential and really lead rather than just demand. >> eric: do you think he can take a page from george w. bush. what did you advise the president at that time and what lessons from that experience that president obama c
. >> eric: how about dealing with the debt ceiling and mr. boehner he won't negotiate anymore? >> the president is going to have to reach across the aisle and demonstrate sincerely he will listen and work. he has to show up for negotiations. he was an absent president when it came to negotiating some of the solutions to the big problems during his first term. he has to be part of the solution and work with congress to try to get things done. we watched george w. bush do it when he...
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they are hoping the timing will be better to deal with the sequestration with the debt ceiling but that is cosmetics. john is right. the premise of your question is right. this is a party that lost its way, lost its vision, lost its approach and the president is trying --. >>gregg: the president's approval rating is 53 percent and negative 48 percent and that is almost the lowest of any second-term president in six decades. nixon did better than that. however, look at the house of representatives republicans. they are showing disapproval rating at 73 percent. >> they have been perceived at negative, out of touch positions that are not popular. >>gregg: gay rights and tax rights? >> and they fit into the demonization they are protecting the rights of the rich. >> they do not have a pro growth agenda, creating jobs, they do not have a message. >>gregg: and the republican party is out of touch according to six in ten. five in ten, they rank poor on climate change and women's issue. >> there is a center right agenda that is solid majority of the american people buy into, but bottom line, th
they are hoping the timing will be better to deal with the sequestration with the debt ceiling but that is cosmetics. john is right. the premise of your question is right. this is a party that lost its way, lost its vision, lost its approach and the president is trying --. >>gregg: the president's approval rating is 53 percent and negative 48 percent and that is almost the lowest of any second-term president in six decades. nixon did better than that. however, look at the house of...
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. >> gretchen: then if members of congress can't agree on a deal to raise the debt ceiling, should we withhold their paychecks? interesting thought. right back in america tay we're running out of a vital resource we need to compete on the global stage. what we need are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them. that's why at devry university, we're teaming up with companies like cisco to help make sure everyone is ready with the know-how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at devry.edu/knowhow. ♪ at devry.edu/knowhow. ♪ savor and explore, a the great indoors ♪ ♪ ♪ friskies indoor delights. ♪ feed the senses. progress-oh! [ female announcer ] with 40 delicious progresso soups at 100 calories or less, there are plenty of reasons people are saying "progress-oh!" share your progress-oh! story on facebook. to volunteer to help those in need. when a twinge of back pain surprises him. morning starts in high spirits, but there'
. >> gretchen: then if members of congress can't agree on a deal to raise the debt ceiling, should we withhold their paychecks? interesting thought. right back in america tay we're running out of a vital resource we need to compete on the global stage. what we need are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them. that's why at devry university, we're teaming up with companies like cisco to help...